My Swing Trading Approach

I’m not opposed to adding more long exposure, but may wait for some consolidation in price or a light volume pullback first. 

Indicators

  • VIX – Breaking down hard and fast. Down six days in a row. Lowest close since late January, and a sign that volatility is trending lower. 
  • T2108 (% of stocks trading below their 40-day moving average): Key test for T2108 coming up today. Has an opportunity for the indicator to break through some major resistance. 
  • Moving averages (SPX): SPX trading above all major moving averages, including the 100-day as well. 
  • RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Yesterday saw utilities lead the market higher, with Technology just behind. Discretionary was a drag on the market, as was Staples which is by far the most hated sector at the moment. Healthcare may finally be changing its tune, with a strong day yesterday and a break of downward resistance from the January highs. The same downwtrend has broken in Financials too. 
patterns to profits email

My Market Sentiment

Downtrend finally broken that started with the original sell-off back in January. That is a big development as is the higher-high that has been put in by breaking the April highs. 

S&P 500 Technical Analysis

swing trading strategy report 199

Current Stock Trading Portfolio Balance

  • 6 Long Positions

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • January Barometer: As January goes, so goes the year.

    January Barometer: As January Goes

  • Swing Trading the Holidays

  • Managing portfolio volatility.

    Managing Portfolio Volatility In Your Swing Trading